Mapo-gu Supports 300,000 KRW for Jeonse Deposit Return Guarantee Fee for Youth

Up to 300,000 KRW Support for Jeonse Deposit Return Guarantee Fee for Youth Aged 19-39 Living in Mapo-gu

Mapo-gu (Mayor Park Gang-su) announced that it is implementing the "Youth Jeonse Deposit Return Guarantee Fee Support" project to prevent low-income young people, including those new to society, from falling victim to jeonse fraud.

The guarantee fee support project is designed to help young people and newlyweds, who have little experience in real estate transactions and are at high risk of jeonse fraud, achieve housing stability by supporting the guarantee fees for subscribing to the jeonse deposit return guarantee.

The eligibility criteria are young people aged 19 to 39 residing in Mapo-gu who meet the following conditions: annual income of 50 million KRW or less (70 million KRW or less for newlyweds), jeonse deposit of 300 million KRW or less, subscription to the jeonse deposit return guarantee (after January 1 of this year), and being a tenant without home ownership.

To apply, applicants must first choose one of the guarantee institutions?Housing and Urban Guarantee Corporation (HUG), Korea Housing Finance Corporation (HF), or SGI Seoul Guarantee?and subscribe to the guarantee for the leased housing and pay the guarantee fee.

Residents wishing to apply can do so online through the Youth Mongttang Information Portal or visit the Mapo-gu Job and Youth Division in person.

The district plans to support up to 200 applicants on a first-come, first-served basis, providing up to 300,000 KRW in guarantee fee support after reviewing eligibility.

Park Gang-su, Mayor of Mapo-gu, stated, "The jeonse deposit during the early stages of one’s career is the most important seed money for preparing for the future, so subscribing to the jeonse deposit return guarantee is an essential preventive measure for economic stability. We expect that the jeonse deposit guarantee fee support project will be a small but strong support for the youth of Mapo-gu, and we will continue to make every effort to ensure stable housing environments and asset protection for young people."

This content was produced with the assistance of AI translation services.